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1712888

	registered interest
	date	22/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Equitable Life Assurance Society: Compensation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with (a) Cabinet colleagues and (b) officials in his Department on compensation and support for affected Equitable Life policyholders.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	23080
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Equitable Life Payment Scheme has been fully wound down and closed since 2016 and there are no plans to reopen any previous decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/04/2024 12:10:54 answering member 4639 label Biography information for Bim Afolami
	tabling member	5000 label Biography information for Alistair Strathern

1700413

	registered interest
	date	12/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money Laundering: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on improving the effectiveness of money laundering regulations.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	21300
	answer	answer is ministerial correction date of answer 17/04/2024 answer text <p>Officials and Ministers regularly meet the Financial Conduct Authority in its capacity as the supervisor of financial institutions for anti-money laundering and counter-terrorist financing purposes.</p><p> </p><p>On 11 March 2024 HM Treasury launched a consultation on improving the effectiveness of the Money Laundering Regulations (<a href="https://www.gov.uk/government/consultations/improving-the-effectiveness-of-the-money-laundering-regulations" target="_blank">https://www.gov.uk/government/consultations/improving-the-effectiveness-of-the-money-laundering-regulations</a>).</p><p> </p><p>HM Treasury officials will be engaging with key stakeholders, including among others the FCA, throughout the consultation process.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 17/04/2024 10:43:36 answering member 4639 label Biography information for Bim Afolami
	tabling member	5000 label Biography information for Alistair Strathern

1676055

	registered interest
	date	06/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Mid Bedfordshire
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of interest rates on the number of mortgage defaults in Mid Bedfordshire constituency.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	5729
	answer	answer is ministerial correction date of answer 11/12/2023 answer text <p>The pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers.</p><p> </p><p>The path to lower interest rates is through low inflation. The independent Monetary Policy Committee continues to have the Government’s full support as it takes action to return inflation to target. The Government’s Mortgage Charter - in addition to the significant safeguards already in place - is providing support to vulnerable households; and mortgage arrears and repossessions remain low.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 11/12/2023 16:26:08 answering member 4639 label Biography information for Bim Afolami
	tabling member	5000 label Biography information for Alistair Strathern

1671793

	registered interest
	date	21/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Mid Bedfordshire
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of (a) interest rates and (b) incomes on the number of mortgage defaults in Mid Bedfordshire constituency.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	2984
	answer	answer is ministerial correction date of answer 27/11/2023 answer text <p>The pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers.</p><p> </p><p>The path to lower interest rates is through low inflation. The independent Monetary Policy Committee continues to have the Government’s full support as it takes action to return inflation to target. The Government’s Mortgage Charter - in addition to the significant safeguards already in place - is providing support to vulnerable households; and mortgage arrears and repossessions remain low.</p><p> </p><p>Over the last two years, the Government has demonstrated its commitment to supporting the most vulnerable by providing one of the largest support packages in Europe. Taken together, support to households to help with the high cost of living is worth £104 billion over 2022-25 - or £3,700 per UK household on average.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 27/11/2023 15:32:14 answering member 4639 label Biography information for Bim Afolami
	tabling member	5000 label Biography information for Alistair Strathern

1671580

	registered interest
	date	20/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Mid Bedfordshire
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the impact of increases in the cost of living on the numbers of (a) businesses at risk of insolvency and (b) people in debt in Mid Bedfordshire constituency; and what fiscal steps he is taking to support those (i) businesses and (ii) people.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	2721
	answer	answer is ministerial correction date of answer 23/11/2023 answer text <p>The Government announced at Autumn Statement 2023 a business rates support package worth £4.3 billion over the next 5 years to support small businesses and the high street. The small multiplier will be frozen and Retail, Hospitality and Leisure (RHL) relief will be extended, which will ensure that the most vulnerable businesses continue to be supported.</p><p> </p><p>The Government also announced further support to protect families: this brings total support over 2022/23 to 2024/25 to help households with the high cost of living to £104 billion – an average of £3,700 per UK household.</p><p> </p><p> </p><p>The Government continues to maintain record levels of funding for the Money and Pensions Service to provide debt advice in England, bringing their debt advice budget to £92.7 million in 2023/24. Data from 2021 on debt advice in Mid Bedfordshire is published by the Money and Pensions Service (MaPS). This can be found here:</p><p> </p><p>https://moneyandpensionsservice.org.uk/2021/09/30/need-for-debt-advice-2021-estimates-for-uk-constituencies-and-local-authorities/</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 23/11/2023 16:40:42 answering member 4780 label Biography information for Laura Trott
	tabling member	5000 label Biography information for Alistair Strathern

1671581

	registered interest
	date	20/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Costs
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the impact of increases in mortgage interest rates on levels of household disposable income in (a) Mid Bedfordshire constituency, (b) Bedfordshire and (c) England.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	2722
	answer	answer is ministerial correction date of answer 23/11/2023 answer text <p>The pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers.</p><p> </p><p>The path to lower interest rates is through low inflation. The independent Monetary Policy Committee continues to have the Government’s full support as it takes action to return inflation to target. The Government’s Mortgage Charter - in addition to the significant safeguards already in place - is providing support to vulnerable households; and mortgage arrears and repossessions remain low.</p><p> </p><p>Over the last two years, the Government has demonstrated its commitment to supporting the most vulnerable by providing one of the largest support packages in Europe. Taken together, support to households to help with the high cost of living is worth £104 billion over 2022-25 - or £3,700 per UK household on average.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/11/2023 17:30:34 answering member 4639 label Biography information for Bim Afolami
	tabling member	5000 label Biography information for Alistair Strathern

1671582

	registered interest
	date	20/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Mid Bedfordshire
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to help secure free access to (a) cash withdrawals and (b) deposit facilities in Mid Bedfordshire constituency.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	2723
	answer	answer is ministerial correction date of answer 23/11/2023 answer text <p>The government recognises that cash continues to be used by millions of people across the UK, including those who may be in vulnerable groups.</p><p> </p><p>The government legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect access to cash. This establishes the Financial Conduct Authority (FCA) as the lead regulator for access to cash and provides it with responsibility and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities. Importantly, in relation to personal current accounts the FCA is required to seek to ensure reasonable provision of free cash access services<em>.</em></p><p> </p><p>Following this, the government published a Cash Access Policy Statement, which sets out the government’s policies on access to cash, including free cash access services. The FCA is required by law to have regard to these policies when determining its regulatory approach. The FCA will publicly consult on its regulatory approach in due course. The government’s policy statement is available on gov.uk: <a href="https://www.gov.uk/government/publications/cash-access-policy-statement/cash-access-policy-statement" target="_blank">https://www.gov.uk/government/publications/cash-access-policy-statement/cash-access-policy-statement</a></p><p> </p><p>In the context of the government’s legislation, the financial services sector is working together to develop and provide shared cash services, such as Banking Hubs and cash deposit services. To date, industry has committed to deliver new shared cash services in over 170 communities.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/11/2023 17:28:45 answering member 4639 label Biography information for Bim Afolami
	tabling member	5000 label Biography information for Alistair Strathern

1671583

	registered interest
	date	20/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Low Incomes: Mid Bedfordshire
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he is taking to provide financial support to people on lower incomes in Mid Bedfordshire constituency.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	2724
	answer	answer is ministerial correction date of answer 23/11/2023 answer text <p>The Government announced further support at Autumn Statement 2023 to support the most vulnerable: From 1 April 2024, the Government is increasing the NLW by 9.8% for 2.7 million low paid workers. Local Housing Allowance rates will rise to the 30th percentile of local market rents in April 2024 for 1.6 million households. The government will also uprate all working age benefits in full by September 2023 CPI of 6.7%, benefitting 5.5 million households in 2024-25. This brings the total support over 2022-2025 to help households with the high cost of living to £104 billion – an average of £3,700 per UK household.</p><p> </p><p>As part of the Government’s long-term plan to grow the economy and reform the tax system, employees will see their main National Insurance Contribution (NICs) rate cut from 12% to 10% from January 2024 onwards, and the main rate of Class 4 NICs for the self-employed will be reduced from 9% to 8% from April 2024. This is a tax cut worth over £9bn per year, the largest ever cut to employee and self-employed National Insurance.</p><p> </p><p>Looking across all tax, welfare and spending decisions made since Spending Round 2019, the impact of government action continues to be progressive, with the poorest households receiving the largest benefit as a percentage of income in 2024-25.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 23/11/2023 16:43:05 answering member 4780 label Biography information for Laura Trott
	tabling member	5000 label Biography information for Alistair Strathern